The government of Meghalaya has decided to allot the 57 MW Umduna and 69 MW Umjaut hydro power projects to North Eastern Electric Power Corporation (NEEPCO).
The cabinet has handed over the projects to NEEPCO since Meghalaya Energy Corporation will be engaged in developing the 210 MW Myntdu Leshka Hydro Power project-Stage II, besides 15 other power projects.
The state government has also agreed to extend guarantee to Meghalaya Power Generation Corporation to avail a loan of Rs 60 crore for the Myntdu Leshka Hydro Electric project, besides agreeing to the proposal of converting the loan component of the generation company to equity.
The cabinet also agreed to convert the Rs 60.25 crore loan component that was extended to the company as equity at the ratio of 70:30.